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Manila Bulletin devider Business devider Trade & Industry devider PEZA partners with Citibank to attract investments to Philippines

PEZA partners with Citibank to attract investments to Philippines

Published Sep 8, 2025 03:11 pm
(PEZA photo)
(PEZA photo)
The Philippine Economic Zone Authority (PEZA) has sealed a partnership with the local unit of American banking giant Citi to promote the country as an attractive investment hub.
In a statement, PEZA said it last week signed a memorandum of understanding (MOU) with Citibank Philippines, led by its chief executive officer, Paul Favila.
The MOU named the bank as the investment promotion agency’s (IPA) newest investment promotion partner.
As a partner to PEZA, Citibank is expected to bring in investments to the country, particularly through economic zones (ecozones) registered under the agency.
PEZA Director General Tereso Panga said he is banking on Citibank’s global reach and financial expertise to make the Philippines more appealing to foreign investors.
“We are confident this partnership will help attract more quality investments into PEZA ecozones and position the Philippines as a rising economic powerhouse in Asia,” said Panga.
Citibank operates in more than 180 countries and is recognized as a global leader in banking and wealth management.
PEZA said these qualities make Citibank a “powerful ally” in the IPA’s mission to create more investments, generate jobs, foster innovation, and drive inclusive growth.
Under the MOU, Citibank has committed to promoting the Philippines as a priority investment destination.
The financial institution has likewise agreed to encourage its global network of stakeholders and partners to explore opportunities within the country’s ecozones.
PEZA has been leveraging partnerships with foreign banks to drive more investments into the country, harnessing their huge international presence to broaden the country’s reach among investors.
Last month, the IPA partnered with Cathay United Bank (CUB), one of Taiwan’s largest commercial banks, in another effort to entice foreign capital into the country.
PEZA previously inked partnerships with Rizal Commercial Banking Corp. (RCBC), Mizuho Bank, CTBC Bank (Philippines) Corp., Mizuho Bank, Sumitomo Mitsui Banking Corp. (SMBC), and HSBC.
From January to August, PEZA has approved ₱105.83 billion in investment pledges, 72-percent higher than the ₱61.69 billion during the same period last year.
Panga said investment approvals as of August are 42 percent of PEZA’s target for the year.
The agency is aiming to approve around ₱235 billion worth of investments this year.
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